GREEK BAILOUT REVIEW BRINGS TROUBLE
This week we welcome back an old friend, the Greek debt crisis. The latest review of its bailout has stalled, with the Greeks wanting more debt relief and less reforms, the IMF wanting more debt relief and more reforms and the Germans wanting less debt relief and more reforms. The situation has become the international financing version of having one boat, some grain, a chicken and a fox. While that riddle has a single correct course of action, there are a range of options facing the Troika, and a small but significant number include Greece defaulting and exiting the Euro. Read More…..